APN Convenience Retail REIT (the Fund) is pleased to announce its results for the year ended 30 June 2019.
Key highlights
- Distributions per security of 20.9 cps, up 5.8% on FY2018[1]
- Funds From Operations (FFO) of $17.0 million (21.5 cps), up 6.4% on FY20181
- Statutory profit of $24.0 million
- $10.6 million or 3.0% increase in portfolio value during the period
- Net Tangible Assets (NTA) up 9 cents per security to $2.96, an increase of 3.1% since June 2018
- Healthy balance sheet with gearing of 32.3% (target range of 25% – 40%) and prudent level of hedging
- Ideally positioned to deliver sustainable long-term income growth with FY2020 distribution guidance of 21.8 cps, an increase of 4.3% on FY2019
For full details of the results, please click on the following:
FY2019 Results Snapshot (video)
APN Convenience Retail REIT has delivered a solid FY2019 result. Distributions for the period of 20.9 cents per security represent an increase of 5.8% on FY2018 annualised. This increase combined with the Fund’s strong security price performance has resulted in a total return for securityholders for the financial year of 23.7%, outperforming the S&P/ASX 300 A-REIT Accumulation Index by 4.3%.
These results are proof that we are delivering on APN Convenience Retail REIT’s strategy of providing investors with an attractive, defensive and growing income stream which is underpinned by long term leases to quality tenants.
For further information, please visit our website or contact 1800 996 456.
